India News | Indo-Asian News Service | Thursday June 18, 2015
The Supreme Court is likely to pronounce, on Friday, the verdict that will decide the fate of Sahara chief Subrata Roy and two group directors who are in jail since March 4 last year for not complying with the court's order to return investors' Rs.24...
Thursday May 14, 2015
Mr Roy has been held in jail for more than a year after Sahara failed to comply with a court order to refund crores of rupees it had raised in bonds deemed illegal.
Friday May 8, 2015
Senior advocate Kapil Sibal, representing the group, asked the bench as well as SEBI and senior advocate Shekhar Naphade, who is assisting the court as amicus curiae, in the matter to accept the draft of the bank guarantees which would be from a sche...
Sunday May 3, 2015
Making a fresh bid to locate Sahara investors eligible for refunds, the Securities and Exchange Board of India (Sebi) has asked the bondholders of two Sahara firms to submit their claims along with the proof of investments.
Sunday April 12, 2015
In a new twist to the high profile Sahara-Securities and Exchange Board of India case, the Indian capital market regulator has approached a US court with a $12-million claim on proceeds from sale of a corporate jet owned by a Sahara group firm.
Thomson Reuters | Friday February 27, 2015
Sebi said Sahara's asset management company has 30 days to transfer its business to another company.
Thomson Reuters | Friday February 27, 2015
Sahara's long-drawn dispute with the Securities and Exchange Board of India (Sebi) over investor repayments has begun to take its toll on salaries of the group's employees, which are getting delayed amid a major liquidity crunch.
Press Trust of India | Friday February 13, 2015
In an application, the Reserve Bank of India (RBI), sought modification of the order allowing Sahara Group to sell its assets for generating funds.
Thomson Reuters | Wednesday February 11, 2015
A senior official and a separate source with direct knowledge of the situation said the market regulator has been checking an affidavit filed by Sahara detailing property assets, as time runs out for the group to post $1.6 billion in bail to free its...
Thursday February 5, 2015
Bail amount set at Rs 10,000 crore, highest-ever in India.
Sunday February 1, 2015
As per the court orders, Saharas were asked to bear the costs incurred by Sebi in identifying the investors and repayment of refunds to them, which has been an uphill task for the capital markets watchdog.
Wednesday December 17, 2014
In a fresh effort to locate Sahara investors eligible for refunds, the Securities and Exchange Board of India (Sebi) has asked bondholders to submit their claims by next month along with necessary proof of their investments.
Tuesday December 2, 2014
The Supreme Court on Tuesday permitted the Sahara Group to proceed with the sale of four domestic properties in its bid to raise Rs 10,000 crore for the release of its jailed chief Subrata Roy. The property sale is likely to fetch Rs 2,710 crore.
Friday November 28, 2014
The Sahara conglomerate on Friday said it aimed to raise $650 million (Rs 4,037 crore at 1 dollar = 61 rupees) in loans to secure the release of its chief, in jail for nearly nine months over the group's failure to refund billions of dollars to inves...
Saturday November 1, 2014
The Securities and Exchange Board of India (Sebi) has accused Sahara of deliberately failing to sell its marquee overseas hotels in New York and London, seen as crucial to it complying with an order to repay investors and secure the release of jailed...
A Vaidyanathan | Thursday October 30, 2014
Market regulator Securities and Exchange Board of India or Sebi on Thursday moved Supreme Court over Sahara's failure to sell properties to repay investors. In its petition, the market regulator said it has received complaints from buyers that Sahara...
Friday October 10, 2014
To fast track prosecution and investigations initiated by the Securities and Exchange Board of India (Sebi) against defaulters, a special court may be set up soon to hear such cases as the regulator has taken up this matter with the government and ju...
A Vaidyanathan | Friday September 5, 2014
Sahara chief Subrata Roy today moved Supreme Court seeking more time for negotiations to sell properties. Sahara chiefs lawyer told the top court that he needs ten more days as the negotiations are in crucial stage and likely to get fetch around Rs 1...
Tuesday August 26, 2014
The Securities and Exchange Board of India (Sebi) on Monday asked the states to enact laws to ensure depositors' interests are safeguarded.
Sunday August 24, 2014
Those having invested in various bonds issued by two Sahara firms, Sahara India Real Estate Corp Ltd (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL) have been asked by Sebi to submit their refund applications along with necessary documentary ...
Thursday August 14, 2014
Mr Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog Sebi (Securities and Exchange Board of India) over the company's failure to repay crores to investors who were so...
Friday August 1, 2014
Roy, head of the Sahara conglomerate, was jailed on March 4 for failing to appear in court in a legal battle with India's capital market's watchdog. He needs to raise Rs 10,000 crore to have a chance of release.
A Vaidyanathan | Friday August 1, 2014
Mr Roy has been lodged in Tihar Jail since March this year.
Wednesday July 30, 2014
Mr Roy, 66, has been arrested over his group's failure to repay lakhs of small investors who were sold bonds that were later declared illegal. Numerous attempts by lawyers to have him released on bail have been unsuccessful.